Puravankara Ltd. shares experienced a 3% rise in Tuesday's trading following the real estate developer's announcement of robust financial results for the September quarter (Q2 FY27). The company reported a significant 62% year-on-year (YoY) increase in pre-sales, reaching an impressive ₹2,136 crore.
Strong Performance Across Key Metrics
The company's customer collections also saw substantial growth, rising 24% YoY to ₹1,301 crore during the second quarter. Furthermore, Puravankara's sales area expanded by 22% YoY, totaling 1.83 million square feet in Q2 FY27, up from 1.50 million square feet in the corresponding period last year.
Average price realization improved significantly, increasing by 32% to ₹11,651 per square foot, compared to ₹8,814 per square foot a year earlier. The developer also completed the handover of 977 homes in Q2 FY27, contributing to a cumulative 1,722 home deliveries in the first half of the fiscal year.
Ashish Puravankara, managing director of Puravankara, commented on the performance: "Our focus is on scaling the business while maintaining discipline in pricing, capital deployment, and execution. In Q2 FY27, pre-sales grew 62% to ₹2,136 crore, with collections up 24% and average price realisation up 32%."
Strategic Project Pipeline Expansion
Puravankara actively bolstered its project pipeline during the first half of FY27, adding projects with an estimated gross development value (GDV) of ₹14,100 crore. These additions represent a cumulative development potential of 10.74 million square feet. Notably, Q2 FY27 alone saw the inclusion of projects with an estimated GDV of ₹8,900 crore, covering 6.51 million square feet.
Key New Developments
- Bengaluru: The company entered a joint development for a 7.83-acre land parcel in the city's south-eastern region, projected to have a GDV exceeding ₹1,100 crore.
- Mumbai: Puravankara secured redevelopment rights for three residential societies in Goregaon West, with an estimated GDV of ₹2,600 crore.
- Greater Noida: A new entry into the Greater Noida market involves a 13.44-acre land parcel, offering 4.57 million square feet of developable area and a potential GDV of ₹5,200 crore.
Mr. Puravankara added that the company is actively investing in differentiated developments across markets with sustained demand. He emphasized the priority now is to "translate this development potential into launches, sales, and cash flows," while maintaining selectivity in capital deployment and a strong focus on execution.